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2023-03-31-accounts

Company number: 02059664 Charity number: 295547

Tara Arts Group

Report and financial statements For the year ended 31 March 2023

Tara Arts Group

Contents

For the year ended 31 March 2023

Reference and administrative information ………………………………………………………………………. 1 Trustees’ annual report ……………………………………………………………………………………………… 2 Independent auditor’s report ………………………………………………….……………………………………. 9 Statement of financial activities ………………………………………………………………………….………. 13 Balance sheet …………………………………………………………………………………………………….……14 Statement of cash flows …………………………………….………………………….……………………………15 Notes to the financial statements ………………………………………………………………………………….16

Tara Arts Group

Reference and administrative information

For the year ended 31 March 2023

Constitution

The charitable Group Company is a private Company limited by guarantee registered in England & Wales, Company number 02059664, incorporated under the Companies Act and its governing document is its Memorandum and Articles of Association. The Company is a registered charity, number 295547.

Directors and trustees

The directors of the charitable Company (Tara Arts Group) trading as “Tara Theatre” are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. As set out in the Articles of Association membership of the Company is open irrespective of political party, nationality, religious opinion, sex, race or colour to full members and group members. Full members are the subscribers and all persons who the management committee shall from time to time admit to membership.

The Trustees during the year and since the year end, were:

Ajay Chhabra Anu Giri Andrew Given Javid Hamid Neha Jain Helen Jeffreys Lisa Logan appointed 26 September 2022 Sunita Pandya (Chair) Sagar Shah

Chief Executives (day to day management)

Helen Jeffreys, Executive Director Abdul Shayek, Artistic Director (until 1 August 2023)

Auditors

Sayer Vincent, Invicta House, 108-114 Golden Lane, London, EC1Y 0TL

Bankers

Lloyds Bank Plc, 399 Oxford Street, London W1R 2BU.

Solicitors

Harbottle & Lewis, 7 Savoy Court, London WC2R 0EX.

Registered office and operation address

356 Garratt Lane, London SW18 4ES.

Name

“Tara Theatre” is the name used by Tara Arts Group and its trading subsidiaries Tara Productions Limited and Tara Enterprises Limited.

Tara Arts Group (Limited by Guarantee)

Trustees’ annual report

For the year ended 31 March 2023

The Trustees present their report together with the consolidated financial statements of the charity and its subsidiaries for the year ended 31 March 2023 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Structure, Governance and Management

The charity is governed by a Board of Trustees, each appointed initially for a term of three years, which is renewable.

The Board meets at least four times a year to consider the affairs of the Company. Trustees are appointed by a combination of recommendation from within the industry and public advertisements. On appointment, they receive a briefing from the Chief Executives, on the Company’s policies and upcoming programmes and the statutory duties of Trustees.

The Board delegates day-to-day responsibility for the affairs of the Company in the person of the Chief Executives. They furnish the Board and its sub-committees, Finance Committee and Fundraising Committee, with quarterly reports on the performance of the Company.

In 2022-23 the Company had 8 full-time and 3 part-time staff, 71% of full-time staff identified as Asian, Black and ethnically diverse and 86% identified as female.

Tara Theatre produces and presents an artistic programme of excellence that amplifies South Asian voices, communities and creative practitioners. We create hyper-local, national and globally connected theatre which explores new voices, narratives and forms. We are a leading voice in advocating and effecting change to address a lack of diversity and representation within the UK theatre sector.

The charity is committed to providing best organisational and HR practices. We have in place equality and diversity, environmental, health and safety, training and development policies and action plans. Tara Theatre offers flexible, hybrid and part-time working options and has trained mental health first aiders on the staff team.

Our current Board has significant experience in executive arts leadership, fundraising, finance, legal, artistic leadership and communications. We have established a finance sub-committee and a fundraising subcommittee to focus on key areas of governance. The Board and Executive have clear monitoring and evaluation procedures to evaluate the delivery of the objectives and financial stability of the organisation. 67% of our board is of South Asian heritage and 56% identify as female.

Relationships with other Connected Charities

There were no relationships with other connected charities during the year under review.

Charitable Objectives

The charity was established in 1977 to promote, maintain and advance public education particularly by the production of Asian cultural, Asian origin or Asian influenced plays and the encouragement of the Arts. This is represented in the charity’s artistic mission for 2022-23:

Tara Theatre’s vision is for a world where equity and social justice is the new normal. We are the beating creative heart of our communities, exploring the world through a South Asian lens. We make politically charged innovative theatre which creates ripples from the hyper-local to the global. We embed ourselves in local communities identifying new narratives, new ideas and new artists.

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Tara Arts Group (Limited by Guarantee)

Trustees’ annual report

For the year ended 31 March 2023

December 2023 Update

In August 2023 Tara Theatre’s Artistic Director and Joint Chief Executive Abdul Shayek died suddenly and unexpectedly. The Executive Director and Joint Chief Executive has taken on the role of sole CEO until recruitment for an Artistic Director and Joint CEO concludes in Spring 2024. There is a programme of work in place for 12 months, curated and conceived by Abdul Shayek. There will be minimal impact on beneficiaries, finances, staffing structure and duties, operations or reputation. The Board and staff team are committed to honouring Abdul’s work and legacy by continuing to deliver the aims of the organistion with a world class programme of artistic work.

Objectives and Activities for the Public Benefit

In shaping their objectives for the year and planning their activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ’Public Benefit: running a charity (PB2)’.

The Trustees’ focus over the course of the year has been the continued implementation of the business and financial plan and development of the second year of work under the artistic leadership of Abdul Shayek.

Since its inception, Tara Theatre has occupied the political and activist space. We continue to promote social change and inclusion through telling stories from the unique lens of South Asian experiences and heritage.

“We understand our sector and society is in the midst of challenging times. We will rise to this challenge. We will seize this moment of opportunity to listen to the needs of our sector, our community, our audiences, our artists and we will support and nourish them.” Abdul Shayek, Artistic Director

With the new financial, business and artistic model we have created a contemporary and democratic space; the centre of a community of artists (including emerging talents, professional artists and community artists) and audiences in South Wandsworth and beyond. Tara Theatre has been catalyst and agent for change within the national theatre landscape, addressing the widespread lack of diversity and inclusivity and changing our sector. Our work has explored the complexities of our world through a South Asian lens, championing South Asian voices and artists, identifying new narratives, new ideas and new forms.

Highlights over the year include:

Silence

A co-production with the Donmar Warehouse, based on Kavita Puri’s book and BBC Radio 4 series Partition Voices. Silence is a new play adapted from the testimonies and stories of people who lived through partition by Sonali Bhattacharyya,Gurpreet Kaur Bhatti, Ishy Din and Alexandra Wood and directed by Abdul Shayek. The production played for 3 weeks at the Donmar and 2 weeks at Tara Theatre, reaching almost 6,000 people at 98% and 96% audience capacity in each venue respectively.

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Tara Arts Group (Limited by Guarantee)

Trustees’ annual report

For the year ended 31 March 2023

We have secured an Arts Council England touring grant for projects of national significance to present Silence across the UK and will be taking the production to Leicester Curve, Birmingham Rep, Home Manchester and Queens Theatre Hornchurch in 2024.

‘A moving and immensely powerful piece of theatre’ Financial Times, Silence 2022

‘Powerful docu-theatre show giving voice to those caught up in the chaos of the Partition of India’ Time Out, Silence, 2022

AMMA

‘When wars are spoken about often women are left out of the narrative... it’s always men that are the heroes. AMMA celebrates the women.’ Abdul Shayek

AMMA meaning mother in Bengali, is an original and ground-breaking 360 virtual reality immersive theatre production. The show was developed from first-hand testimonies of the Bangladeshi War of Independence from older women in Birmingham, Walsall, Manchester and London . AMMA combined theatre and film with 360 immersive technologies, bringing the protagonist’s detailed and cluttered east London flat to life and transporting the audience to village homes, mosques and riversides of Bangladesh. Filmed in both Bangladesh and London, AMMA is a piece of global theatre honouring and sharing the memories of these women whose lives changed forever when they made their heartbreaking and terrifying journeys from Bangladesh to the UK in search of safety.

AMMA won the Digital Innovation Award at the UK Theatre Awards 2023.

Since playing at Tara Theatre in December 2022, AMMA has been presented at Theatre in the Mill, Bradford at the Women’s Weekender Festival.

Artists Make Space

A major international collaboration, pairing seven Bangladesh based artists and seven UK artists to co-create new exploratory works. Artists Make Space was commissioned by the British Council and led by Tara Theatre in partnership with Britto Arts Trust in Dhaka. The artists’ specialties spanned art forms including playwriting, visual art, music, poetry and film. The final exhibition was shown at Tara Theatre, Birmingham Rep and Contact Theatre, Manchester before moving to Dhaka, Sylhet and Chittagong in Bangladesh. Artists Make Space was nominated for the International Award at the Stage Awards 2023.

‘ I thought it was beautifully exhibited and evocative…transforming…challenging… rewarding…empowering’ Artist feedback, Artists Make Space

Final Farewell on Tour

We revived our critically acclaimed production, Final Farewell touring to Greenwich and Docklands International Festival, Hat Fair, Certain Blacks and Brighton Festival. The tour was commissioned by Without Walls in partnership with GDIF.

Tara Theatre Young Company – DNA

‘ DNA structures link us to our past. Webs of lies shape our present. Networks of stories weave us together and make up the fabric of our society’

DNA was a production directed by Natasha Kathi-Chandra and written by Atiha Sen Gupta inspired by the stories of Tara Theatre’s Young Company – a diverse group of artists between the ages of 18 and 25 whose lives have been shaped by the challenges of migration and displacement due to conflict. All members of Tara Theatre’s Young Company are paid the London Living Wage for their work on projects. DNA was a culmination of a collaborative devising process with the creative team and the Young Company.

‘Powerful…mic drop after mic drop…superb cast…authentic…must-see’ Audience feedback, DNA , Tara Theatre 18-25 Young Company

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Tara Arts Group (Limited by Guarantee)

Trustees’ annual report

For the year ended 31 March 2023

Constellations Artist Development

Constellations is a national artist development programme supported in 2022/23 by Foyle Foundation and Noel Coward Foundation. Early career artists are given paid masterclasses and research and development space and time to generate work supported by dedicated producers. The showcase events provide opportunities for the artists to make connections with industry professionals.

Six theatre makers participated in the Residency, an intensive week of masterclasses with cross-discipline industry professionals, followed by three weeks of rehearsal and making working with a dedicated arts producer. The work created ranged across cabaret, physical theatre, digital, writing and verbatim theatre. Themes included memory, identity, trauma, mental health, grief, environment, politics and race.

Each piece was presented in two showcases for both the public and invited industry professionals, including networking opportunities for the artists.

‘Very positive experience…it was a place for global majority artists to create…I made good connections with producers’ Participant feedback, Constellations Artist Development

NOVA

NOVA is Tara Theatre’s seed commission programme for writers of South Asian heritage and connections. The programme commissions four writers per year to expand the canon of South Asian voices and uncover stories of how contemporary narratives around current themes affect our communities. The NOVA showcase featured table reads of the commissions performed by professional actors and directed by Milli Bhatia.

Spoken Space

Spoken Space is our quarterly evening of spoken word, music and monologues which features curated as well as open mic performances from a range of artists.

ENO at Tara Theatre

An evening of arias presented in partnership with ENO, from both famous and lesser known operas. The event included a discussion of ideas of diversity, the historic imperial perspective and the challenge of the artform, which was written by white men, within a contemporary cultural landscape. The panel included Abdul Shayek, Tara Theatre’s Artistic Director, Martin Fitzpatrick, ENO’s Head of Music and Andrew Given, ENO’s Director of Development.

Theatre of Sanctuary

In recognition of our longstanding work alongside refugees and communities seeking sanctuary in London, we were officially recognised as a Theatre of Sanctuary awarded by the Arts Stream of Sanctuary. In 2021 we established a relationship with CARAS (Community Action for Refugees and Asylum Seekers). CARAS is a community outreach charity based in Tooting who support people of refugee and asylum-seeking backgrounds living in Southwest London. We run weekly coffee afternoon groups for sanctuary seekers where anyone is welcome to join for food, drinks and creative activities, taking place in Tara Theatre’s Studio Space.

Financial Review

The Company made a deficit in the year of £148,088, mitigated by a designated reserve of £102,270 carried forward for operating costs. Total unrestricted general funds carried forward were £133,368, £17,802 of this related to a prior year restatement. £574,324 in unrestricted fixed assets while £2,658,940 was carried forward in restricted funds. Of restricted funds £2,557,949 is held as fixed assets.

The Board continued to exercise due diligence over the financial transactions of the charity in the year under review.

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Tara Arts Group (Limited by Guarantee)

Trustees’ annual report

For the year ended 31 March 2023

The Company is principally supported by Arts Council England, as a national portfolio organisation (NPO). Arts Council England’s current funding agreement for Tara Theatre runs until March 2026.

In 2022-23 Tara Theatre’s income was made up of: Arts Council England 27%, Earned Income 9% (box office, fees and commissions & Theatre Tax Relief), Trading Income 4% and Fundraising 60% (donations, trusts and statutory organisations).

The charity’s principal ongoing funding source remains Arts Council England. Its subsidy in the current year enabled the charity to achieve its principal objectives.

It has been Board policy to review the fixed assets on a regular basis (at least biennially) principally for impairment purposes. Tara Theatre owns the freehold asset of the charity’s base at 356 Garratt Lane, London, SW18 4ES. Accordingly, this is reflected in the accounts. Arts Council England has taken a Legal Charge over the property in respect of its investment in the capital project.

In the year under review, the Company’s income was from the following sources:

27% Arts Council England 13% Earned income

We were awarded revenue grants from Esmée Fairbairn Foundation, Garfield Weston Foundation, Oak Foundation and project grants from Austin & Hope Pilkington Trust, The Portal Trust, National Heritage Lottery Fund, Genesis Foundation, Kirsten Scott Memorial Fund, Bloomberg Philanthropies, Higgins Partnerships, L&Q Foundation, The Idlewild Trust, Aziz Foundation, Fenton Arts Trust, Golsoncott Foundation, Without Walls, Maria Bjornson Memorial Fund.

Lisa Kerridge (ACA) was in the permanent role of Head of Finance. Helen Jeffreys continued in the role of Executive Director and Joint Chief Executive.

Future Plans

In Spring 2024 we will present our production of Silence across the UK and will be taking the production to Leicester Curve, Birmingham Rep, Home Manchester and Queens Theatre Hornchurch.

We will continue with our artist development and community engagement programmes, as well as presenting our quarterly Spoken Space events.

Risk Management

The Trustees consider the risks to the charity at each quarterly Board meeting and ensure that systems and procedures are established to mitigate the risks identified. A Risk Register is prepared by the executive which outlines key risks around productions, health and safety, financial and strategic and external risks.

The principle risk to the Company, in line with other subsidised companies in the theatre sector, stems from core funding being withdrawn. Arts Council England has confirmed funding to 2026.

Reserves Policy and Going Concern

Under the Reserves Policy Tara Theatre maintains a general reserve to protect the charity against fluctuations in trading income, funding and donations. Tara Theatre reviewed its Reserves Policy in November 2023, taking into account current operating costs and risks associated with income required to deliver business planning objectives. The Trustees will work towards maintaining a general reserve of £146,851, equivalent to three months current administration, building and staffing costs. Free reserves currently stand at £133,368, with an additional £572,543 held in designated funds, which represents the net book value of carried forward unrestricted fixed assets.

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Tara Arts Group (Limited by Guarantee)

Trustees’ annual report

For the year ended 31 March 2023

The charity has two trading subsidiaries: Tara Productions Limited and Tara Enterprises Limited. Trading surpluses achieved are transferred back to the main charity. Neither Subsidiary traded in the year however they are expected to trade in future years. Should trading resume in future years, any profit made will be transferred to the charity via Gift Aid.

Both the trading subsidiaries and target Reserves Policy go toward ensuring the Company remains legally compliant and financially resilient over the longer-term.

The Trustees consider that there are no material uncertainties about the charitable company’s ability to continue as a going concern. In addition, at the time of reporting, there are no significant risks of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Statement of responsibilities of the trustees

The trustees (who are also directors of Tara Arts Group for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company or group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2023 was 8 (2022: 8). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

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Tara Arts Group (Limited by Guarantee)

Trustees’ annual report

For the year ended 31 March 2023

Auditor

Sayer Vincent LLP was appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been approved by the trustees on 11 December 2023 and signed on their behalf by

Sunita Pandya Chair of the Board of Trustees

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Independent auditor’s report

To the members of Tara Arts Group

For the year ended 31 March 2023

Opinion

We have audited the financial statements of Tara Arts Group (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2023 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Tara Arts Group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report, other than the group financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the group financial statements does not cover the other

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Independent auditor’s report

To the members of Tara Arts Group

For the year ended 31 March 2023

information, and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to

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Independent auditor’s report

To the members of Tara Arts Group

For the year ended 31 March 2023

going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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Independent auditor’s report

To the members of Tara Arts Group

For the year ended 31 March 2023

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor) Date: 14 December 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

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TV•Afts Group Consolldated sraternentof athttlts OD¢orwtatlng an Income and expendllurt attouDt) Forthe ar ended 31 2Q25 Z023 022 Genetal Oes￿natOd funds General DE5ignated funds funds To lund Not In¢DmefMm'. Donat5on5 and le9aCIE5 333.678 833,678 678.1S3 078.153 88.458 420,231 2fj,855 167.400 194,25E OthertradlDg acttyitlts.. Commerclal trartlng v￿ratIonS Other Income 22.303 22,303 Toral Incorne 455,574 331.713 707.347 727,312 167.400 894,712 £¥pendiwr on.. ComMer(lal tradlng operatlon5 5,953 5,955 4,796 4,796 ThÈ&t 458,718 127.590 913.460 621.368 50.000 109.3$8 780,725 464,671 127.$90 626.164 so.000 lQ9,358 785.522 Nei InwTh• l (eXPthdityJrel before neig￿n$ I (kn1¢s) Dn Iii%*SlThtnts 19,097) 1127.$90) I132.￿6) 150.0001 58,042 109.190 Net Income I (eX￿nd1￿J1tDIorIhe￿￿ 19,09 1127,590) 4.621 (13z,0661 150.0001 58.042 109,190 Translers bÈfwÈÉn funds 12,9461 2.945 1fj1.459) 90,654 Net Iv fynd 4.621 (131.0661 37,689 40,654 30.847 canElllatlDn of fvrth.. Tatal fund5 biDughi forward 674.222 2.677,284 3.496,917 107,722 633.568 2.646.437 3,387.727 Total fuads carded f0Th￿rd 133.368 $49,578 2.681,905 3.364,851 674,222 2,677.284 3.496.917 All of thè4b￿ rosutts trom conilnukng T￿￿1 notsthti rnC09n15ed glin5 lo55e5 Qtherthan statod above. Mowomtfi15 In are015rlD5a 20 to ile nnanckil 5LilemEnls. 13

Tara Art5 Group Balance sheets Company no. 02059664 March 2023 The group 2023 The charfty 2023 2022 2022 Note Flxed a55ets: Tanglble assets Investmenis 3.130.492 3,155,289 3.130.492 3.155.289 3.130,492 3.155.289 3.130,494 3.155.291 Current assets: Debtors Cash at bank and in hand 66,031 222,259 127,399 304,563 66192 222.096 128,040 303,920 288.290 431.962 288.288 431,960 Uabllltles: Credltors.. amounts falling due withln one year 153,9311 190,3341 153,931) 190.3341 Net current assets 234.359 341.628 234,357 341,626 Totsl a55et5 less currnnt Ilabllltles 3,364,851 3.496.917 3,364.851 3.496.917 Net as5et5 excludlng penslon 3,364,851 3,496,917 3,364.851 3,496,917 Total net assets 3.364.851 3,496.917 3,364.851 3,496,917 Funds: General funds Deslgnated fund5 19a 133.368 549.578 145.411 674.222 133,368 549.578 145.411 674.222 Total unrestrlcted funds 682 946 819.633 682 946 819.633 Restrlcted Income funds 2.681,905 2.677.284 2,681.905 2.677,284 Total funds 3.364,851 3.496,917 3,364,851 1,496,917 The Trustees have prepared these accounts In accordance with section 398 of the Companies Act 2006 and Section 138 of the Approved by the trustees on I l December 2023 and signed on thelr behalf by Sunlta Pandya Chalr of the Board of Trustee Helen Jeffreys Trustee 14

Tard Arts Group Consolldated statement of cash flows For the ended 31 March 2023 Note 2023 2022 Cash flows from operatlng actlvitles Net lexpenditurel for the reporting period las per the statement of flnancial activitie51 Deprecialion charge5 Ilncreaselldecrease In debtors Increaselldecrea5el in creditors (132.066) 109,190 50.708 61.368 (36.403) 40,861 1178,9351 70,286 Net cash provlded by I (used In) operatlng attl￿tIeS 156.393) 101,402 Cash flows from Investlng actlvltles: Purchase of fixed assets 125,9111 11,6001 Net cash {used In) Inve5tlng actfvltles 125,9111 11,6001 Change In cash and cash equlvalents In the year 182,3041 99,802 Cash and cash equlvalents at the beginning of the year 304,563 204.761 Cash and wh equlvalents at the end of the year 222.259 304,563 Analysls of cash and cash equlvalents and of net debt Other non- At 31 March ash 2023 changes At l April 2022 Cash flows Cash at bank and in hand 304,563 182.3041 222.259 a Total cash and cash equlvalents 304,563 182,3041 222,259 15

Tara Arts Group Notes to the flnanclal statements For the ar ended 31 March 2023 l Accountlng pollcle5 a) Statutory Infomiatlon Tara Arts Group is a charitable company limited by guarantee and Is Incorporated in the UK. The registered office addres5 356 Garratt Lane. London, SWI 8 4ES. b) Basls of preparatlon The financial statements have been prepared In accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) - (Charities SORP FRS 1021, The Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006ICharities Act 2011. These financial statements consolidate the results of the charity and its wholly-owned subsidiares Tara Productions Ltd, and Tara Arts Enterprises Ltd on a line by line basis. Transactions and balances beMeen the charity and its subsidiary have been eliminated from the consolidated financlal statements. Balances between the two entities are disclosed in the notes of the charity's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemption5 afforded by section 408 of the Companies Act 2006, A summary of the result for the year is disclosed in the notes to the account5. Assets and Ilabilities are initially recogni5ed at hlstorical cost or transaction value unless otherwlse stated In the relevant accounting pollcy or note. The trustee5 do not consider that there are any sources of estlmation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities wlthln the next reporting period. c) Publlc beneflt entlty The charity meets the definition of a public benefit entity under FRS 102. d> Golng concem The trustees consider that there are no material uncertainties about the charity's ablllty to continue a5 a going concern. e) Income Income Is recognlsed when the charity ha5 entitlement to the funds. any performance conditions attached to the Income have been met, it 15 probable that the Income will be received and that the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants, Is recognised when the charity has entltlement to the funds. any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received In advance of the provision of a spetified service Is deferred untll the criteria for income recognition are met. 16

Tara Arts Group Note5 to the financlal Statements For the ar ended 31 March 2023 l Accountlng pollcle5 (contlnued) Donatlons of gifts, services and facllitles Donated professional setvices and donated facilities are recognised as incoTne when the charity has control over the item or received the service, any conditions associated wlth the donatlon have been met, the receipt of economic benefit from the use by the charity of the item Is probable and that economic benefit can be measured reliably- In accordance with the Charities SORP IFRS 1021, volunteer time Ss not recognised so refer to the trustees, annual report for more information about their contribution. g) Interest recelvable Interest on funds held on dep051t is included when recelvable and the amount can be measured rellably by the charity- this is normally upon notifscation of the interest paid or payable by the bank. h) Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other Incomlng resources recelved or generated for the charitable purposes. Designated funds are unrestricted fund5 earmarked by the trustees for particular purposes. l) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds relate to the costs Incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activSties with a fundraising purpose Expenditure on charitable activities includes the cost5 of theatre activities undertaken to further the purposes of the charity and their associated support costs Other expendlture represents those items not falling into any other heading Irrecoverable VAT is charged as a cost against the activity for which the expenditure wa5 incurred. J) Allocatlon of 5UPPOrt Costs Resources expended are allocated to the particular activity where the cost relates directly to that activity. The cost of overall direction and administration of each activity, comprising the salary and overhead c05t5 of the central function. is wholly apportioned to Theatre production Costs. Governance costs are the cost5 associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity's activities. Theatre production Costs Support costs Governance costs 62% Support and governance costs are wholly attributable to theatre production costs. Theatre Production Costs loo% 17

Tara Arts Group Notes to the flnanclal statements For the ar ended 31 March 2023 l Accountlng policles (contlnued) k) Operatlng leases Rental charges are charged on a stralght line basis over the term of the lease. 1> Tanglble flxed assets Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those aciivities. Assets are reviewed for impairment if circumstance5 indicate their carrying value may exceed their net realisable value and value in use. Imajor components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful lifel. Where fixed assets have been revalued. any excess between the revalued amount and the historic cost of the asset will be shown as a revaluatlon reserye in the balance sheet. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows.. Freehold Land and Bulldings Studio Fixtures and Fittings Theatre Fixtures and Fitrings Office Equipment 100 years 3 years l O years 5 years m) Investments In subsldlarles Investment5 in subsidiaries are at Cost. n) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. o) Cash at bank and in hand Cash at bank and cash in hand Includes cash and short term hlghly liquid investments Wlth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. p) Credltor5 and prov15ion5 Creditors and provisions are recognised where the charity ha5 a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provlslons are normally recognised at their settlement amount after allowlng for any trade dlscounts due. q) Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify a5 basic financial instruments. Basic financial instruments are initially recognised at transaction value and subseqyently measured at their settlement value. r) Pen5i0n5 The Charltable Group Company operates a deflned contrlbutlon scheme for the beneflt of Its employess. Contributions are recognised as expenditure when due. 18

Tar4 Arts Group Notes to the flnanclal statements For the ear ended l March 2023 2 Income from donatlons and legacles 2023 Total 2022 Total Grants ACE funding Other revenue funding 211.006 119.250 529,136 146.854 330,256 675,990 tk>nations Individuallsundry 3.422 2.163 333.678 678.153 3 Income from charitable actlvltles 2023 Total 2022 Total Theatre Income Box officelfees Project specific funding Theatre Tax relief 41,667 346,462 32,102 26.856 167,400 420,231 194.256 £333,773 of Theatre Income is restricted12022.. £167,400) Project specific funding Includes restricted grants from Trusts and Fonudations, a5 well as partnership and production fees. 4 Income from other tradlng activities 2023 Total 2022 Total Commerclal tradlng operation5 Barlhire and Merchandise income Membershlp Subscrlptlons Royaltles 29.737 150 2.025 22.303 31,912 22.303 All income from trading activities is unrestricted. 19

Tara Arts Group Note5 to the flnanclal statements For the ear ended 31 March 2023 5 Expendlture on raislng funds 2023 Total 2022 Total Commerclal tradlng operatlon5 Barlhire c05t5 5,953 4.796 5,953 4.796 6 Expendlture from charltable actlvltle5 2023 Total 2022 Total Theatre Productlon costs Direct theatricallproductSon costs 334,798 285.794 Support costs (see below) Governance costs (see below) 566,805 11,857 486,932 8,000 913.460 780.726 £327,152 of Theatre Expenditure Is restrlcted 12022.. £109.3581 Support costs Office overheads}administration Depreciation of fixed asset5 Staff costs Professionallfinancial 140,430 50,708 365,864 9,803 171,452 40,861 263.704 10.915 566,805 486,932 Governance costs Accountancylconsultancy Audit 1,700 10.157 2.750 5.250 11,857 8,000 20

Tara Arts Group Notes to the flnanclal statements r ended 31 March 2023 Net Income I lexpendlturel for the year This IS stated after charging I Icreditingl.. Group 2023 Charity 2023 2022 2022 Depreciation of tangible fixed assets Auditor's rernuneration (excluding VAD= Audit Other services 50.708 40.861 50,708 40,861 10.157 1.700 5.250 2,750 3,000 2,000 Analysls of staff costs, trustee remuneraiion and expenses. and the c05t of key management personnel Staff costs were as follows.. Group 2023 Charity 2023 2022 2022 Salaries and wages Social security costs Pension costs 329,522 29.059 7.283 237,993 20.372 5,339 329,522 29,059 7,283 237.993 20,372 5,339 365.864 263,704 365,864 263.704 No employee earned more than £60,000 during the year12022'. nill. The key management personnel of the group and parent charity comprlse the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the chariry were £117.642 12022- £114,308). Helen Jeffrey5 was paid a gross salary of £57,500 12022.. £57.0001 for work undertaken as Executive Director and Joint CEO during the year while serving as a trusiee of the charitable company. Trustees, expenses represents the payment or reimbursement of travel and subsistence costs were nil.12022'. Staff numbers The average number of employees Ihead count based on number of staff employed) during the year was l O 12022.. 81. Group 2023 No. Charity 2023 No. 2022 No. 2022 No. Productionslsupporr 21

Tara Arts Group Note5 to the flnanclal statements For the r ended 31 March 2023 10 Penslon costs The group and parent operate5 a defined contribution pension scheme In respect of Its employees. Employef contributlons are 3% of pensionable eaTning5. The scheme and its assets are held by independent managers. The penslon charge represents contributions due from the company and amounted ro £7,283 12022- £5.3391. Related party transactions Aggregate donatlons from relared parties were £57612022.. nill. 12 T￿atIon The charity is exempt from corporation tax as all Its Income is charirable and is applied for charitable purposes. 13 Tanglble flxed assets The group and charlty Freehold Studio landl fixtures and buildings fittings Theatre fixturesl Office equipment Total C05tl valuatlon At the start of the year Additions Ln year 3,377,021 46,498 37,033 T,971 16,628 23,940 3.477,180 2S,911 Ai the end of the year 3.377.021 46,498 39,004 40,568 3,503,091 Depreclatlon At the Start of the year Charge for the year 247.251 33,770 41,575 4,923 21,344 3,900 11,721 8,114 321,891 50,708 At the end of the year 281.021 46,498 25.244 19,835 372,599 Net book value At the end of the year 3,096.000 13.760 20.733 3,130,492 At the start of the year 3,129,770 4,923 15,689 4,907 3,155,289 There is a legal charge of £1.3 million over the a55ets of the charitable group company. All of the above assets are used for charitable purposes. 22

Tara Arts Group Notes to the financlal statements or the ear ended 31 March 2023 14 Flxed Asset Invesiments Shares in group underrakings - at cost £2. The parent ctrtarity owns l 00% of the share capital of Tara Productions Limited and Tara Arts Enterprises Limited, which are registered in England. Tara Productlons Llmlted The prlncipal acriviry of Tara Producrion5 Lirnited is production of theatre tours. The total capital and resetves at the balance sheet date were £1 12022 - £11. The charity owns the whole of the i55ued ordinary share capital of Tara Productions Limited, a cornpany registered in England. The company number is 09365444. The ¥egi5tered office addre55 is 356 Garratt Lane, London, SWI 8 4ES. The subsidiary is used for non-primary purpose trading activities. All actlvitles have been consolidated on a line by line basis in the statement of financial activities. Available profi15 are di5trbuted under Gift Aid to the parent charity. The Artlsric Direcror is a150 a dirertor of the subsidiary. A summary of the results of Tara Productions Limited alone is shown below.. 2023 2022 Turnover Cost of sales l Admin Cost5 Proflt l (loss) for the flnanclal year Retalned earnlngs Total rerained earnings brought fonNard Profit I Ilossl for the flnancial year Total retalned earnlngs carrled forward The aggregate of the a55ets, liabilltles and reseNes was.. Assets 93 (92) 333 13321 Reserves 23

Tara Arts Group Note5 to the flnanclal statements For the r ended 31 March 2023 14 Flxed Asset Investments {cont) Tara Art5 Enterprlse5 Umlted The principal activity of Tara Arts Enterprises Limited is the commercial tradlng actlvity of Tara Theatre. The toral capital and reserves at rhe balance Sheer date were £ 1 {2022 - 111. A summary of the results of Tara Enterprises Limited alone Is shown below.. 2023 2022 Turnover Turnover from sales to parent undertaklng C05t of sale5 Cost of sales relared ro purchases from parent underraking Proflt 111055> for the flnanclal year Retained eamlngs Total retained earning5 brought forward Profit I Ilossl for the financial year Total retalned earnlngs carrled forward The aggregate of the assets. liabiliiie5 and reserves was.. A55ets 70 1691 310 13091 15 Reserves The parent charitys gross income and the results for the year are disclosed as follows.. 2023 2022 Gross income Result for the year 787,347 1132,066) 894,712 109,190 24

Tara Arts Group Notes to the Ilnanclal statements For the ar ended 31 March 202 16 Debtor5 The group 2023 The charlty 2023 2022 2022 Trade debtors Other debtor5 Amounts due from group undertaklngs Prepayments and accrued income 18,012 13.939 19,456 150 18,012 13,939 161 34.080 19,456 150 641 107.793 34.080 107.793 66.031 127.399 66.192 128.040 17 Credltor5- amounts falllng due wlthln one year The group 2023 The charlty 2023 2022 2022 Trade creditors Taxaiion and soclal security Other c¥editors Accruals 28,453 11.991 2.646 10,841 35,046 8.737 4,162 42,389 28.453 11.991 2,646 10.841 35,046 8,737 4,162 42,389 53,931 90,334 53.931 90,334 18 Deferred Income The group 2023 The charlty 2023 2022 2022 Balance at the beginning of the year Amount released ro income in the year Amount deferred in the year 2.500 {2,5001 2.500 12.5001 Balance at the end of the year 25

Tara Arts Croup Notes to the flnanclal Statements the ar ended 31 March 2023 19a Analy51s of 9roup net assets between funds {current yearl General unrestricted Designated funds Restrlcted funds Total fund5 Group Tangible fixed assets Net current assets 549,578 2,580.914 100,991 3.130.492 234.359 133,368 Net ￿Sets at 31 March 2023 133.368 549.578 2,681,905 3.364.851 General unrestricted Designated funds Restricted funds Total fund5 Charlty Tangible flxed assers Investment5 Net current assets 549.578 2,580,914 3.130,492 133,366 100.991 234.357 Net assets at 31 March 2023 133,368 549.578 2.681.905 3.3fA,851 19b Analy515 of group net assets betsveen funds (prlor year) General unrestrlcted Designated funds Restrlcted funds Tot￿ funds Group Tangible fixed assers Net cuirent assets 571,502 102,720 2,583,787 93.497 3.155,289 341.628 145,411 Net assets at 31 March 2022 145.411 674.222 2.677.284 3,496,917 General Lsnrestricted Designated funds Restricted funds Total fund5 Charlry Tangible fixed asset5 Investments Net current assets 571,502 2.583.787 3,155.289 145,409 102,720 93.497 341.626 Net assets at 31 March 2022 145.41 674.222 2.677,284 3,496,917 26

Tara Ans Croup Notes to the flnanclal statements For the ar ended 31 March 2023 20a Movements In funds (current year) At l April 2022 Income & Expenditure gains & losses At 31 March 2023 Transfers Group Re5trlcted funds- Fixed asset fund Amma Our Streets Artists Make Space Constellations Spoken Space Young Company Bloomberg Aziz Foundation Final Farewell Nova 2,583,787 29,097 125.8381 189,0471 15.0001 183,9001 143.5001 (i 0,0001 115.5701 138,2651 112.2091 13.3231 15001 22,965 2.580.914 59.950 5.000 47,QOO 16.000 i o,ooo 50.500 125,000 14.500 3.323 500 36,900 27,500 34,930 63.770 2,291 122,9651 Total restrlcted fund5 2.677.284 331.773 1327.1521 2.681.905 De51gnated funds: Fixed a55et fund Operating costs fund 571,502 102,720 124,8701 1102.7201 2,946 549.578 Total deslgnated funds 674.222 1127.5901 2.946 549,578 General funds 145,41 455,574 {464,6711 12,9461 133,368 Total unre5tritted funds 819,633 455,574 1592,2611 682,946 Total fund5 3,496.917 787.347 {919.4131 3,364,851 27

Tara Arts Group Notes to the flnandal statements For the ar ended 31 March 2023 20b Movements In fund5 (prlor year) At l April 2021 Income & Expenditure gains & losses At 31 March 2022 Transfers Group Restricted funds: Fixed a55et fund Amma Artistic Associate project Our Streets Artists Make Space Constellations Tara Theatre Programme 2,610,982 127,1951 2.583.787 29.097 59,950 130,8531 120,0001 114,5001 128,5 501 20,000 14,500 65,450 27,500 36.900 27.500 15,455 115.4551 Total restrlcted funds 2,646,437 167,400 1109,3 581 127,1951 2.677.284 Deslgnated funds: Fixed asset fund Garfield Weston fund Operating cost5 fund 583.568 50.000 112,0661 571,502 150.0001 102,720 102,720 Total deslgnated funds 633,568 150.0001 90.654 674,222 General funds 107,722 727,312 1626.1641 163.4591 145,411 Total unre5trlcted fund5 741,290 727,312 1676,1641 27.195 819.633 Total funds 3,387,727 894,712 {785,5221 3,496,917 Purposes of restrlcted funds Flxed Asset Fund This fund represents the total funds raised for the capital development of the company's theatre. completed i April 2016. Grants were awarded by Art5 Ctsuncil England. trusts. foundations and cornpanies, in addition to donation5 from individual Tara supporter5. The balance in thls fund Is reduced by an annual depreciatlon charge. Amma A virtual realliy project explorlng the experlences of women In the Bangladeshl War of IndependencÈ. Our Street5 A theatre project working with 12 young women and non-binary people from Wandsworth, explorlng thelr experience5 of occupying public spaces in London. Artlsts Make Space An internati()nal collaboration between UK based and Bangladeshi artist5 supporred by the Brirish Council. Constellatlons A national artist development programme funded by the Foyle Foundation and the Noel Coward Foundarion. 28

Tara Ans Group Notes to the flnanclal statements For the ar ended 31 March 202 20 Purpose5 of restrlcted funds {contlnuedl Spoken Space Curated events of spoken word poety. live music and monologues. Young Company A production devised by Tara Theatfe'5 cornpany of young artists aged 18-25 years old. Bloomberg A programme of work supported by Bloomberg Philanthrtspies to research and create dlgital content In order to test and develop a digital audience engagement Strategy. Azlz Foundatlon A grant to support an As515tant Producer role to develop wtsrker5 in the theat￿ sector frtsm British Muslim backgrounds. Flnal Farewell A revival of our 2021 pioduction Final Farewell touring to Greenwich and Docklands International Fesiival, Hat Fair, Certain Black5 and Brighton Festival. The tour was commissioned by Without Walls in partnership with GDIF. Nova A seed commission programme for w¥lters of South Aslan herltage. Purposes of deslgnated funds Flxed Asset Fund Thls fund represents the net value of fixed asseis held in unrestricted TeseNes 21 Operatlng lease commltments payable as a lessee The group's total future minimum lease payments under non-cancellable operatlng leases Is as follows for each of the following periods.. Property 2023 Equipment 2023 2022 2022 Less than one year One to five years 207 166 276 373 373 649 22 Legal status of the charlty The private limited company 15 lirnited by guarantee, registered in EW - England & Wales and has no share capital. Each member gives a guarantee io contribute a sum. not exceeding £1. to the company should it be wound up. At 31 March 2023 there were 8 members 12022 81. 29